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Find what is the companys cost of goods sold

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Reference no: EM132501246

The following events took place at a manufacturing company for the current year:

(1) Purchased $97,000 in direct materials.
(2) Incurred labor costs as follows: (a) direct, $58,000 and (b) indirect, $15,600.
(3) Other manufacturing overhead was $109,000, excluding indirect labor.
(4) Transferred 75% of the materials to the manufacturing assembly line.
(5) Completed 60% of the Work-in-Process during the year.
(6) Sold 80% of the completed goods.
(7) There were no beginning inventories.

Question 1 : What is the company's Cost of Goods Sold?

Reference no: EM132501246

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